Fertilizer company aims to raise new capital to invest

Staff writer, with CNA

All Cosmos Bio-Tech Holding Corp (全宇生技控股), a Malaysia-based fertilizer manufacturer, has filed an application with the Taiwan Stock Exchange (TWSE, 台灣證交所) for a primary listing on the main board, the TWSE said on Saturday.

The fertilizer supplier was the eighth foreign-registered company to seek a primary listing on the TWSE last year.

According to the prospectus of All Cosmos, which is incorporated in the Cayman Islands and is currently capitalized at NT$500 million (US$17.18 million), the company intends to issue 6.67 million new shares in the listing, with 15 percent of the new shares reserved for its employees.

All Cosmos said the issue price has been tentatively set at NT$40 per share. It hopes to raise about NT$267 million as working capital to expand its business and repay bank loans.

The fundraising activity is scheduled to be completed by the second quarter of this year, the company said.